“COVID-19 has had a substantial financial impact on the tourism industry, and destination organizations have responded quickly by deferring marketing funds in a responsible manner,” said Craig Compagnone, chief operating officer, MMGY Global commenting on the results of a recent meetings industry survey.
MMGY Travel Intelligence, in partnership with Destinations International Foundation, has released the findings from the third wave of a series of bi-weekly tracking surveys of North American destination professionals. The surveys assess how this sector has been affected by COVID-19 and what shifts organizations are making during a period of very fluid change. The latest findings reveal that while almost the entire sector (95 percent) has moved to reduce or postpone paid promotional advertising, and 80 percent have shifted sales, marketing or messaging, half of destination organizations expect to return to several forms of paid promotional advertising within the next 60 days.
“However, search data is telling us that there is still a strong desire to travel, and we believe this pent-up demand will result in a high volume of shorter booking window trips when bans are lifted and consumers believe it is safe to get out and explore again,” added Compagnone.